What is a anything auction? Well, that means that you can bid on items by 1 coin increments which is obviously within your budget. No wonder that Quibids, Beezid, and the likes, have gathered record amounts of customers in a short time schedule. The main reason for this uprising is probably that if you win with your anything bid, you will end up saving about 90% on new retail items such as Apple iPads for $20 (retail is $500 and up), Samsung LED 55″ flatscreen 3d Tv for $60 (retail is $2, 000), etc…

Although it seems too good to be true, it is very real. The bidding process sites actually bring in a lot more money than what they expend on the new items.  หวยไทยรัฐ This is because customers have to buy the right to bid, on Quibids, a package of 100 submissions is worth $60, that is 60 cents per bid. So if you placed one bid and won the ipad at $20, you will actually spend $20. 60 on the item.

No big deal right? Let’s abdominal crunch the numbers. First, let’s note that unlike ebay, these sites do not have an explicit end time on auctions, every time an item is bid on, time is added to the clock. The auction ends when nobody posted a bid for say, 10 seconds. That basically means that everyone has the same probability to win the item. On that note, let’s take the example of the ipad that went for $20. Starting the auction at $0, it took a total of 2, 000 1 coin submissions to get there. If you bid once, the probability to win this auction is defined as 1 in 2, 000. Of course, you can increase your probability by bidding process once or twice, 100 submissions gets you to 1 chance out of 20 but you will then have spent $60 + $20 with a 5% chance to get the item. Meanwhile, the website will receive 2, 000 times 60 cents for the item no matter what, that is $1, 200! Since the item costs them only $500 and the auction winner will still have to spend the final $20 bid on it, the website will make a staggering 144% profit! This is true on every item, every day, with the minimal structure that include an online business.

It is actually a mystery why such methods are legal because if you sum it up, all they are, are online lotteries. Submissions are gambling bets and your probability depend on the money you spend. It is important for the “customers” to realize that the dollar value of an item that is bet on does not represent anything, it is only a trick to attract more people and cause them to think that they’re going to get a good deal. In reality, you can forget about the status of the “auction” and just think of it as a lottery which is each ticket is worth 60 cents. At the end of the day, you can either get lucky, walk away, or get caught informed and keep playing the odds. Very much like at casinos, you will then end up losing much more than what you are winning. My advice: try it a couple of times, then go to your retail store and pay face value..

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